The publication begins with an overview of the fiscal ecosystem, identifying and defining the roles of the principal actors involved, followed by an overview of the parliamentary financial cycle and its four main phases. A general note on public participation throughout the entire cycle follows, prior to a more in-depth look at good practices parliaments can employ to improve openness in each phase of the budget and fiscal policy cycle. Each phase of the cycle provides (1) an overview of parliament’s role; (2) executive reporting requirements; (3) guiding questions for parliamentarians in the fulfilment of their functions; (4) opportunities for public participation led by parliament or parliamentarians, and; (5) relevant good practices from parliaments in this hemisphere and around the world, some of which were extracted from the results of the Open Budget Survey.